NEW YORK (Reuters) – The yen rose from recent multiyear lows against the dollar and euro on Monday as renewed worries about the global economy spurred traders to sell riskier investments funded by the relatively cheap Japanese currency.
Commodity-linked currencies, such as the Australian and New Zealand dollars, fell sharply against the U.S. currency, as gold prices plunged below $1,400 an ounce to a more than two-year low. Prices for other precious metal were dragged lower as a result of gold’s slide.
NEW YORK, April 12 (Reuters) – European Commission President
Jose Manuel Barroso said on Friday that he seeks to negotiate a
“living agreement” to help deepen economic and trade ties with
the United States.
“If we manage to come to a comprehensive agreement, the
overall gains could add up to a 0.5 percent rise in GDP for
Europe and 0.4 percent for the United States by 2027,” Barroso
said in prepared remarks at a business event co-sponsored by the
European American Chamber of Commerce New York and Bloomberg
NEW YORK (Reuters) – The International Monetary fund said the European Union was moving in the wrong direction by banning the use of a hedging strategy related to sovereign credit default swaps.
In a report published on Thursday ahead of its annual meeting April 19-21, the IMF said the ban on so-called naked SCDS is not supported by any empirical evidence and could in fact lead to more instability in the financial markets.